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IMF says higher bond yields underscore urgency of fiscal consolidation
BANGKOK: The International Monetary Fund on Wednesday urged advanced economies and others to take urgent action to reduce government spending, cut deficits and reduce debt levels, warning that…
Business Recorder- Mergers & dealsUpdated
SK Group Chairman Chey sells stake to Dell family office fund for $406 million
SEOUL: SK Group Chairman Chey Tae-won has agreed the sale of a 1.34% stake in holding company SK Inc to an investment fund linked to Dell Technologies founder Michael Dell for 544 billion won ($406…
Business Recorder 
Oil prices climb as traders weigh Saudi supply risk, Russian diesel flow
TOKYO: Oil prices climbed on Wednesday as traders weighed supply risk from fighting between Yemen’s Houthis and Saudi Arabia against the prospect of increased diesel from Russia.
Business RecorderAddressing rising costs, arresting decline: PTEA wants 6-8pc DLTL support tied to 10pc rise in exports
ISLAMABAD: Pakistan’s textile exporters have sought temporary Drawback of Local Taxes and Levies (DLTL) support of 6-8 percent, linked to a 10 percent increase in exports, as part of a broader…
Business RecorderDeveloping nations: Aurangzeb seeks stronger World Bank, IMF support
BANGKOK: Federal Finance Minister Muhammad Aurangzeb has called for reforms to the global financial system, warning that trade barriers and climate change are creating additional challenges for…
Business RecorderDemonstrations backing France’s students gather strength
PARIS: Tens of thousands of people joined rallies across France on Tuesday to support protesting high school students, boosting a movement that poses a major challenge to President Emmanuel Macron…
Business RecorderAnti-money laundering violations: US fines Bank of America over USD1.2bn
WASHINGTON: The US Treasury Department said Tuesday that it is imposing penalties of more than USD1.2 billion on Bank of America, citing “violations of anti-money laundering and sanctions laws.” The…
Business Recorder
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